Market Embraces General Motors’ Dividend Announcement, But Impact Looks Quite Modest
General Motors Company (NYSE: GM) this past week reinitiated its common dividend at a US$0.09 per-share quarterly rate. The company suspended dividend payments in April 2020, citing fears of a COVID-19 economic slowdown. The quarterly payout prior to the suspension was US$0.38 a share. In addition, the company announced it will resume “opportunistic” stock buybacks. The GM Board increased the […]
CloudMD: Canaccord Cuts Target To $0.45 Ahead of Q2 2022 Results
On Wednesday, Canaccord Genuity Capital Markets downgraded and cut their price target on CloudMD (TSXV: DOC), saying that their forecast is now shrouded by multiple challenges. The analysts downgraded the stock to a hold rating from a speculative buy rating while slashing their 12-month price target to C$0.45 from C$1.50. In the news release CloudMD […]
Tether And The Long Promised Audit
On Thursday, stablecoin firm Tether announced that it has switched accounting firms. The company tapped the Italian member of accounting firm BDO to sign off its attestations of its financial situation moving forward. “Our commitment to transparency and the community is a long-standing pillar in the underlying ethos of the company and aligns with our […]
Is The Real Estate Slowdown Over? Housing Supply Tightens Amid Decline in New Listings
It appears that the US housing market slowdown may have been temporary, as reduced demand for home-buying prompts would-be sellers from listing their property, thus limiting housing supply. What was beginning to look like a major slowdown in the housing market may soon be no more: according to new data from Redfin. The number of […]
Holy Crop! Record Drought Pushes Produce Shortages
The United States is currently experiencing one of the worst droughts in known history, forcing what could be a wave of crop shortages and higher prices on the shelves for produce and its derivative commodities due to lack of supply. According to the US government’s drought monitoring agency, around 41.23% of the country is in […]
TerraPower, Bill Gates’ Nuclear Innovation Company, Raises $750 Million
TerraPower, the nuclear innovation company founded by business magnate Bill Gates, announced on Monday that they have completed an equity raise, yielding at least $750 million. The fundraising was co-led by SK Group and Gates, who’s chairman of the board. SK is one of South Korea’s largest energy providers, the company invested $250 million. According […]
SEC Charges Three individuals With Insider Trading Related to 2017 Equifax Data Breach
The SEC has laid charges against three individuals for illegally trading Equifax (NYSE: EFX) shares prior to the company publicly revealing it suffered an extensive data breach. Back in September 2017, Equifax announced that hackers gained access to the personal information of over 143 million Americans sometime between May and July, making it one of […]
Robinhood Posts Weak July 2022 Operating Metrics, Yet Betting Against the Stock Seems Wrong
Robinhood Markets, Inc. (NASDAQ: HOOD) on Thursday reported several key operating statistics comparing the month of July to prior months. Given the far better tone of equity and cryptocurrency markets in July versus the second quarter, the data has to be considered disappointing. Monthly active users at the end of July fell to 13.2 million from 14.0 […]
FDIC Sends Cease-and-Desist Letter to Crypto Companies Over Misleading Claims About Deposit Protection
Several cryptocurrency platforms received cease and desist letters from the Federal Insurance Deposit Corporation over allegedly making misleading claims to investors about their funds being protected by federal insurance. The FDIC on Friday sent letters to five crypto companies, including Cryptonews.com, Cryptosec.info, SmartAsset.com, FDICCrypto.com and US-based exchange FTX US, accusing them of falsely telling customers […]
Trevali Mining Files For Creditor Protection After Missing Debt Payment
True to their word, Trevali Mining (TSX: TV) has failed to make a scheduled interest payment that was due August 17, as it broadcasted the day before in connection with its second quarter earnings release. As a result of the failure to make payment, in a move surprising no one, the firm has now officially […]